SpaceX shares were recovering early Monday, trading about $2.20 a share higher than Friday’s close of $134.72 after a sell-off.
The stock fell 6.37% Friday to close just below its $135 initial public offering price as technology stocks fell amid concerns about artificial intelligence spending.
The SpaceX drop on Friday was more than double the 2.9% decline in the Nasdaq composite.
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The broader sell-off has been tied to worries about whether hundreds of billions of dollars in AI spending will produce enough profit and productivity.
Intel plunged 28.6% after giving a profit forecast that fell short of analysts’ expectations. Amazon reported negative free cash flow of $42.4 billion over the past 12 months after spending $94.8 billion on property and equipment, primarily AI investments.
SpaceX, which trades on Nasdaq as SPCX, went public June 12 at $135 per share.
Its market value is about $1.83 trillion, based on the shares outstanding listed in its quarterly report.
The stock has traded between $104.83 and $225.64 over the past 52 weeks and is about 40% below that intraday high.
The company reported third-quarter results Oct. 20, with revenue of $14.58 billion against an estimate of $12.72 billion, according to the London Stock Exchange Group, a global financial data provider. Net income was $4.4 billion, compared with a net loss of $1.1 billion a year earlier.
Its “Super Intelligence” segment brought in $7.56 billion of that revenue, according to the company’s quarterly filing with the Securities and Exchange Commission. SpaceX spent $19.6 billion on capital expenditures in the quarter, $16.4 billion of it in that segment.
For the first nine months of 2026, SpaceX reported a net loss of $413 million.
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